Demand for increase in Floor Area ratio in Mysore

Q: Hello friends, i came across an article which said that the Floor Area ratio is going to increase in Mysore. Is it true?

Swathi Dani, Mysore

15th December 2014

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Replies (5)

Hey, well the rising property prices in Mysore have been a cause for worry for a long time now, and one of the factors leading to this rise was the low FAR. Realising that the middle class men won't be able to afford such high property prices, builders and other stakeholders have raised an issue to increase the FAR. Fingers crossed the authorities take a positive decision. :)

Ruchira Ramkrishna, Mysore

17th December 2014

Comment

Hi, the current FAR is 1.5 and stakeholders like Builders Association of India and CREDAI, have approached Mysore Urban Development Authority to increase it to 2.5. The authorities are yet to respond to this request, so there hasn't been an actual increase in the FAR.

Utsav Chakraborty, Mysore

17th December 2014

Comment

Hello there, Floor area ratio is the permissible ratio of built area to the plot area. A larger floor area ratio will help in lowering the per unit cost. Also around 50 % of the cost of an apartment is for the land , and an increase in the FAR will lead to decrease in the construction cost. These reasons have led to the increased demand for higher FAR.

Tarun Nayak, Mysore

16th December 2014

Comment

Hey, yes the issue has been gaining a lot of traction lately, with property prices reaching an all time high in the city. Builders have argued that rates of properties have risen to an extent where they are no longer economically feasible. Thus the demand for increase in the floor area ratio, which the builders believe wil help bring down the prices by around 20 %.

Arun Rajan, Mysore

16th December 2014

Comment

Hi, i think you misread the article. While there is an increasing demand amongst stakeholders to increase the floor area ratio , to offset the rising property prices in Mysore, no decision has been taken by the authorities on the matter, as of now.

Deepesh Gowda, Mysore

15th December 2014

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